Clean Harbors (NYSE:CLH) Upgraded to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of Clean Harbors (NYSE:CLH) from a market perform rating to an outperform rating in a research note released on Thursday, BenzingaRatingsTable reports. They currently have $88.00 price target on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. UBS Group upped their price target on shares of Clean Harbors from $70.00 to $73.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. TheStreet lowered Clean Harbors from a b- rating to a c+ rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $81.25.

Clean Harbors stock traded up $0.05 during mid-day trading on Thursday, reaching $76.03. The stock had a trading volume of 295,600 shares, compared to its average volume of 405,143. The firm has a market cap of $4.07 billion, a P/E ratio of 60.34 and a beta of 1.61. The company’s 50-day moving average price is $70.51. Clean Harbors has a one year low of $46.21 and a one year high of $80.06. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.92 and a quick ratio of 1.59.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.04. The company had revenue of $868.68 million for the quarter, compared to analysts’ expectations of $880.97 million. Clean Harbors had a net margin of 2.38% and a return on equity of 7.01%. Clean Harbors’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. On average, analysts forecast that Clean Harbors will post 1.82 EPS for the current year.

In other news, insider Alan S. Mckim sold 11,318 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $65.30, for a total transaction of $739,065.40. Following the completion of the sale, the insider now owns 3,648,540 shares of the company’s stock, valued at approximately $238,249,662. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan S. Mckim sold 38,682 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $65.32, for a total transaction of $2,526,708.24. Following the sale, the insider now directly owns 3,659,858 shares of the company’s stock, valued at approximately $239,061,924.56. The disclosure for this sale can be found here. In the last three months, insiders sold 61,824 shares of company stock valued at $4,110,806. 8.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. Macquarie Group Ltd. purchased a new stake in shares of Clean Harbors during the 4th quarter valued at about $30,000. O Shaughnessy Asset Management LLC increased its position in shares of Clean Harbors by 148.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 761 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 455 shares during the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Clean Harbors during the 1st quarter valued at about $56,000. Meridian Wealth Management LLC purchased a new stake in shares of Clean Harbors during the 1st quarter valued at about $70,000. Finally, Coastal Capital Group Inc. purchased a new stake in shares of Clean Harbors during the 2nd quarter valued at about $107,000. 90.04% of the stock is owned by hedge funds and other institutional investors.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy, and industrial services in North America. The company operates through two segments, Environmental Services and Safety-Kleen. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste that include resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and CleanPack, a service to collect, identify, categorize, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous wastes.

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Analyst Recommendations for Clean Harbors (NYSE:CLH)

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